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Raghuram Rajan has no plans to give up full-time academic job for AAP's Rajya Sabha offer

As three Rajya Sabha seats from Delhi will fall vacant next January, the ruling party in the Capital, reports suggested, may nominate ‘rank-outsiders’ for the seats.

November 08, 2017 / 11:53 PM IST
2. Raghuram Govind Rajan - Former Reserve Bank of India governor and currently a Katherine Dusak Miller Distinguished Service Professor of Finance at the University of Chicago Booth School of Business. Rajan, who graduated from IIT-Delhi in 1985 with a Bachelor’s degree in electrical engineering, also won the Director’s Gold Medal there. (Image: PTI)

2. Raghuram Govind Rajan - Former Reserve Bank of India governor and currently a Katherine Dusak Miller Distinguished Service Professor of Finance at the University of Chicago Booth School of Business. Rajan, who graduated from IIT-Delhi in 1985 with a Bachelor’s degree in electrical engineering, also won the Director’s Gold Medal there. (Image: PTI)

Former Reserve Bank of India Governor Raghuram Rajan has no plans to consider the Rajya Sabha seat offer by Arvind Kejriwal's Aam Aadmi Party (AAP).

As three Rajya Sabha seats from Delhi will fall vacant next January, the ruling party in the Capital, reports suggested, may nominate ‘rank-outsiders’ for the seats.

Top AAP leaders reportedly discussed Rajan's  nomination for a Rajya Sabha seat at a party meeting.

However, responding to Moneycontrol's queries, Rajan said he has no plans to leave his full-time job in academics.

Speaking on behalf of Rajan, the communications department of the University of Chicago Booth School of Business stated: "While Professor Rajan is engaged in a variety of educational activities in India, he has no plans to leave his full-time academic job at the University of Chicago."

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Months after he stepped down as RBI Governor, the euphoria around Rajan doesn't seem to die. After he made headlines for being in contention for Nobel Prize, premier financial magazine Barron validated the technocrat's credentials with a thumbs up for the top job at US Federal Reserve.

As per reports, AAP members were hopeful that 'people of eminence' for Rajya Sabha would add value to AAP's representation in Parliament. Besides, such a move would also help AAP reach out to a larger masses ahead of the Lok Sabha elections in 2019.

However, Rajan's plans to stick to academics may not go very well with AAP chief Arvind Kejriwal trying to find electoral grounds at a national level.

Rajan, who was appointed RBI Governor by the previous UPA government, had on several occasions run into differences of opinion with the UPA government and the current NDA dispensation.

A former chief economist at the International Monetary Fund (IMF), Rajan worked as the chief economic advisor to the India's Ministry of Finance and served a 3-year term as the the head of Reserve Bank of India.

There was no proposal from the government to continue beyond the three-year tenure which ended on September 4 last year, he had said.
Beena Parmar
first published: Nov 8, 2017 11:34 pm

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